Cleveland believed that all would be well if "confidence" could be restored and that the way to restore it was to repeal the Silver Purchase Act of 1890. The steady addition of silver-based money was, he believed, threatening the country with inflation and inhibiting investment. "You cannot prevent a frightened man from hoarding his money," he said. "I want . . . our currency so safe and reassuring that those who have money will spend and invest it in business and new enterprises, instead of holding it."
In Congress resistance to repeal was strong. The Democratic party was badly split on the question, since many southern and western Democrats were being squeezed by the continued price deflation and saw in silver the one hope of ending it. Particularly in the Senate, where the sparsely populated western silver-mining states had more influence than in the House, pressure on the president to accept some compromise grew rapidly.
Cleveland would not yield an inch. Repeat became for him a matter of principle, and opposition to it "shameful." He, who had so vigorously denounced influence peddling and the use of patronage to compel political obedience, used his power to grant or withhold offices and other favors ruthlessly. When Democratic Congressman Willam Jennings Bryan of Nebraska warned him that repeal of the Silver Purchase Act would "injure the party" in his state, Cleveland responded by refusing to appoint Bryan supporters to local offices. "One thing may as well be distinctly understood by Democrats in Congress who are heedless of the burdens and responsibilities of the incoming administration," he explained to a friend. "They must not expect us to 'turn the other cheek' by rewarding their conduct with patronage." In the end he had his way, but only after splitting his own party and reducing drastically his ability to influence later legislation.
Pro business,as he believed that this created jobs and wealth and thus made the country prosperous.
Cleveland therefore opposed high tariffs and government subsidies,and was in favour of the Gold Standard (the international currency exchange rate system of the day).
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Cleveland believed that all would be well if "confidence" could be restored and that the way to restore it was to repeal the Silver Purchase Act of 1890. The steady addition of silver-based money was, he believed, threatening the country with inflation and inhibiting investment. "You cannot prevent a frightened man from hoarding his money," he said. "I want . . . our currency so safe and reassuring that those who have money will spend and invest it in business and new enterprises, instead of holding it."
In Congress resistance to repeal was strong. The Democratic party was badly split on the question, since many southern and western Democrats were being squeezed by the continued price deflation and saw in silver the one hope of ending it. Particularly in the Senate, where the sparsely populated western silver-mining states had more influence than in the House, pressure on the president to accept some compromise grew rapidly.
Cleveland would not yield an inch. Repeat became for him a matter of principle, and opposition to it "shameful." He, who had so vigorously denounced influence peddling and the use of patronage to compel political obedience, used his power to grant or withhold offices and other favors ruthlessly. When Democratic Congressman Willam Jennings Bryan of Nebraska warned him that repeal of the Silver Purchase Act would "injure the party" in his state, Cleveland responded by refusing to appoint Bryan supporters to local offices. "One thing may as well be distinctly understood by Democrats in Congress who are heedless of the burdens and responsibilities of the incoming administration," he explained to a friend. "They must not expect us to 'turn the other cheek' by rewarding their conduct with patronage." In the end he had his way, but only after splitting his own party and reducing drastically his ability to influence later legislation.
Pro business,as he believed that this created jobs and wealth and thus made the country prosperous.
Cleveland therefore opposed high tariffs and government subsidies,and was in favour of the Gold Standard (the international currency exchange rate system of the day).